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<keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

<ul class="summary-list"><li><keyword id="19895433" type="General" weightage="100" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword>'s falling California sales point to bigger problems for the car company.</li><li>Changes to the EV market are finally catching up to Tesla.</li></ul>Tesla is losing some ground in its former home state of California, signaling more trouble ahead for the world's largest electric car company. As <keyword id="20360560" type="General" weightage="20" keywordseo="electric-car-sales" source="keywords">electric car sales</keyword> rose 2% in California, Tesla's sales in the state fell 3.5%, according to third-quarter <a target="_blank" class="" href="https://www.cncda.org/news/california-new-car-dealers-association-releases-q3-2024-auto-outlook-report/">figures</a> from the California New Car Dealers Association. That's not an anomaly. It's the third straight quarter of Tesla sales declines in the largest EV market in the US. The losses don't upset Tesla's market dominance: the Elon Musk-led company still accounted for more than half of all EV sales in California for the quarter. Through September 30, Tesla's EV market share in California declined from 64% to 55% year-over-year— still nearly five times that of Hyundai (5.6%) and BMW (5%) combined. The trend in California underscores Tesla's challenges as the <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EV market matures</a> and new competition makes it harder for the company's aging lineup to entice new buyers. In addition to these economic challenges, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-political-beliefs-public-stances-timeline-republican-desantis-2022-6">Musk's political views</a> have shifted further right, with the CEO endorsing and campaigning for Republican presidential candidate Donald Trump in the 2024 election. That can impact sales in a solidly blue state like California. Actor Jason Bateman recently said he isn't driving a Tesla anymore because of Musk's connection to Trump. "I got rid of my Tesla," Bateman told vice presidential candidate Tim Walz on an episode of his podcast <a target="_blank" href="https://www.smartless.com/episodes/episode/288fe449/governor-tim-walz">Smartless</a>, which he hosts with Sean Hayes and Will Arnett. "I feel like I'm driving around a Trump sticker with that car, so it's gone." <h2>The EV market is maturing</h2>EV demand in the US has been slowing for about a year. It took longer for that slowdown to hit <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> than other competitors, but it's clear now that Musk is feeling the pinch as its once-reliable buyer base of wealthy early adopters is replaced by a more practical and frugal green-car shopper. Previous tactics like slashing prices and offering dealership-like incentives to buy Teslas over other EVs aren't working as well as they used to. Following <a target="_blank" class="" href="https://www.businessinsider.com/tesla-production-deliveries-second-quarter-decline-2024-7">two quarters of slipping sales</a>, Tesla's share of the US electric car market dipped below 50% for the first time at the end of the second quarter, according to data from Cox Automotive. The automotive retail firm attributed much of <a target="_blank" class="" href="https://www.businessinsider.com/tesla-loses-market-share-but-elon-musk-still-wins-2024-7">Tesla's waning dominance</a> to an influx of new competition, which offered EV shoppers more choices. This increase in choices is especially threatening for Tesla, which does not regularly update the looks of its electric cars — a strategy industry experts have been warned for years could come back to bite the company. An increase in demand for hybrid-electric vehicles has also been "detrimental" to Tesla and overall EV adoption, <a target="_blank" class="" href="https://www.businessinsider.com/tesla-blames-hybrids-for-lower-sales-2024-4">according to Musk</a>. Many industry experts disagree, arguing that hybrids are a necessary bridge technology for EV adoption among later adopters. <h2>Elon's politics turn off some customers</h2>Musk is no stranger to controversy. The bombastic billionaire's rise over the past decade has been in part due to his willingness to thumb his nose at some social codes and government agencies. But as Musk becomes a more permanent fixture in the US's far-right movement, some owners and potential customers have been having <a target="_blank" class="" href="https://www.businessinsider.com/tesla-owners-consider-selling-cars-shares-cybertruck-elon-musk-post-2023-11">second thoughts about supporting Tesla</a>. As Tesla owners take to social media to express their displeasure with Musk's political involvement, automotive industry experts say there could be real consequences for the CEO's "Dark MAGA" era. <a target="_blank" class="" href="https://www.businessinsider.com/ev-demand-still-strong-despite-slowdown-hybrids-survey-2024-1">Today's electric car shopper</a>, who is often considering an EV for environmental reasons, is less willing to look past Musk's support for Trump and other conservative leaders, experts say. Musk, for his part, has denied that his involvement in politics is impacting sales. "Tesla's sales are actually doing great," he said during a recent X space. "We're hitting all-time highs." Correction — October 31, 2024: An earlier version of this post incorrectly said California was Tesla's home state. The company's headquarters is now in Texas.

Why Tesla's sales are slipping in California, and what it means for Elon Musk's car company

Six out of the top ten most selling cars in India in October are from Maruti Suzuki

<ul class="summary-list"><li>Chinese cars are selling at record levels in Russia.</li><li>Competition from European, Korean, and Japanese carmakers has vanished since Western sanctions were imposed on Russia.</li></ul>Chinese cars are selling at record levels in Russia, according to data from Russian analytics agency Autostat, reported by <a target="_blank" class="" href="https://www.ft.com/content/d228a85c-248a-430d-afe5-2b93bbc9ba06">The Financial Times</a>.The country has turned to Chinese autos from brands such as Chery, Geely, and Great Wall Motor after sanctions forced Western brands to stop doing business with Moscow.European, Korean, and Japanese carmakers had dominated the Russian market with a 69% share, per Autostat. However, since <a target="_blank" href="https://www.businessinsider.com/russia-economy-ukraine-war-moscow-west-sanctions-inflation-gdp-2024-10">Western sanctions</a> were imposed against Russia following its invasion of Ukraine in February 2022, Autostat's data showed a steep decline in sales.The three regions now hold just 8.5% of the market, while Chinese carmakers such as have jumped from 9% to 57% over the same period.Ilya Frolov, a car blogger based in Moscow, told the FT that Russian drivers had been left with little choice: "If you're buying a car, your choice is either a [Russian-made] Lada or an extremely expensive European car brought in as a grey import, or a very well-equipped and relatively cheap Chinese one."In the first nine months of 2024, Russia imported 849,951 vehicles from China, the FT reported, citing China Passenger Car Association data. China sold less than half that number to its second-largest market, Mexico.The CPCA didn't immediately respond to a request for comment form Business Insider.The sales boom in Russia comes as Chinese automakers face rising obstacles in other regions.In October, the EU voted to <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">impose sweeping tariffs</a> on Chinese EVs. BYD will face a levy of 17%, with other automakers facing tariffs as high as 35% on top of an existing 10% tax.The US introduced trade restrictions against Chinese EVs earlier this year.China's cheaper high-tech premium vehicles, particularly its EVs, have been expanding rapidly in developing markets like Brazil, Mexico, and Southeast Asia, <a target="_blank" class="" href="https://www.businessinsider.com/toyota-nissan-honda-japanese-iconic-carmakers-struggle-china-ev-rivals-2024-11">disrupting legacy automakers</a> in countries like Japan and Germany.

China is selling record numbers of cars in Russia

New Delhi: <keyword id="20081557" type="General" weightage="20" keywordseo="auto-industry" source="keywords">Auto industry</keyword> players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. <keyword id="20034542" type="General" weightage="100" keywordseo="Kia-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Kia India" meta.hostid="153" meta.entityid="Kia India">Kia India</keyword> National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year. "With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards," he noted. Brar said the booking momentum in September was good, which is a strong indication for October. "And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year," he added. Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was a dip of about 2-3 per cent, leading to the buildup of inventory. <keyword id="20505895" type="General" weightage="20" keywordseo="Nissan-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Nissan Motor" meta.hostid="153" meta.entityid="Nissan Motor">Nissan Motor</keyword> India Managing Director Saurabh Vatsa said the entire industry is looking at the festive season to bring some cheer after witnessing tough three months. "I think it has been a challenging period. The festive period will define the quarter, and the third quarter will define what happens in the remaining part of the year," he said. Everybody is looking forward to the festive seasons, especially from the industry, he added. <keyword id="19967765" type="General" weightage="20" keywordseo="Toyota-Kirloskar-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota Kirloskar Motor" meta.hostid="153" meta.entityid="Toyota Kirloskar Motor">Toyota Kirloskar Motor</keyword> Vice President, Sales-Service-Used Car Business, Sabari Manohar said the company is witnessing enhanced footfalls and enquiries. "Key to meeting this rising demand has been our strategic operational improvements, such as the introduction of a third shift. This has significantly optimised our supply chain, particularly for high-demand models like the Urban Cruiser HyRyder, where waiting periods have been reduced," he said. Additionally, there is a clear shift in sentiment, with an increasing embrace of eco-friendly technologies, not only in urban areas but also in Tier II and Tier III markets, Manohar said. <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="153" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword> India Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company is trying to increase its sales by bringing in some limited edition models. He noted that during Ganesh Chaturthi and Janmashtami, the company witnessed good traction in sales and has been able to generate volumes as per the business requirements. <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> Passenger Vehicles MD Shailesh Chandra said in its monthly sales statement that registrations have picked up pace towards the end of the month (September), which augurs well for the festive period ahead. "We remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network," he added.

Carmakers expect festive period to bring in robust sales, improve overall buyer sentiment

<ul class="summary-list"><li>BYD has just notched another big victory in its fight to overtake Elon Musk.</li><li>The Chinese EV maker's quarterly revenues outstripped Tesla's for the first time.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/byd-founder-wang-chuanfu-biggest-chinese-global-ev-automaker-2024-1">BYD</a> has just scored another victory in its battle to overtake <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a>.The Chinese EV giant said in its third-quarter earnings on Wednesday it had surpassed Tesla's revenues from EV sales for the first time.BYD recorded revenues of 201.1 billion yuan ($28.2 billion) in the three months to September 30, up 24% from the same quarter last year. <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10">Tesla posted sales of $25.2 billion</a> over the same period.It's another marker for the industry juggernaut, which has ridden China's EV boom to become one of the country's largest automakers.BYD briefly <a target="_blank" class="" href="https://www.businessinsider.com/ken-griffin-on-chinas-byd-ev-outperforming-elon-musks-tesla-2024-1">overtook Tesla as the world's biggest EV producer</a> at the end of last year, and after a record quarter, is aiming to put <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a>'s company under further pressure.Here are five reasons BYD is booming:<h2 id="d2ed0127-4943-4c97-9993-210cd5715665">1. Affordable EVs</h2>BYD is known for its cheap electric vehicles, and has spent this year making them cheaper.The automaker launched a <a target="_blank" class="" href="https://www.businessinsider.com/byd-china-ev-price-war-yuan-plus-tesla-elon-musk-2024-3">wave of price cuts earlier this year</a>, which included lowering the price of the <a target="_blank" class="" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">ultra-cheap Seagull hatchback</a> to under $10,000.Those price cuts gave BYD an advantage over Tesla, whose cheapest vehicle in China is the 231,900 yuan ($32,600) Model 3, and appear to have spurred sales.BYD announced record monthly deliveries on Friday, with the company selling half a million passenger vehicles in October.<h2 id="e64c7ec7-70d2-498e-9c45-48cb9cbdfad2">2. Luxury vehicles</h2>As well as making their cheapest cars cheaper, BYD has expanded into luxury vehicles.<div type="image" title="Yangwang U9" height="2667" width="4000" msid="114857774" hostid="261" sizebytes="618384"></div>The automaker launched <a target="_blank" class="" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">the Yangwang U8</a>, a $150,000 premium SUV that comes with an onboard drone last year.BYD also <a target="_blank" class="" href="https://www.businessinsider.com/byd-electric-supercar-u9-cost-ferrari-vibes-2024-2">unveiled its first supercar</a>, the 1.68 million yuan ($235,000) Yangwang U9, in February.The expansion of local automakers into China's premium market has put <a target="_blank" href="https://www.businessinsider.com/luxury-european-carmakers-china-sales-competition-electric-vehicles-bmw-mercedes-2024-10">pressure on European giants like Mercedes and BMW</a>. Experts told BI that this would enable firms like BYD to target less price-sensitive customers and grow beyond China's brutally competitive mass market.<h2 id="abc6d5cc-26e9-4f5e-97a0-116de874ee95">3. Global expansion</h2>BYD has embarked on an ambitious expansion drive this year to boost sales outside China. Executives have said they want half of BYD's sales to come from abroad in the future.Though US and European tariffs on Chinese EVs make selling in these regions problematic, BYD is <a target="_blank" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6">rapidly setting up factories worldwide</a> to cut costs and avoid trade barriers. It's also focusing on emerging markets such as Mexico and Brazil.<h2 id="95ef07ab-209d-40a4-8311-9fa326be69ed">4. Hybrids</h2>A key part of BYD's success is its hybrid range. Unlike its rival, Tesla, BYD also offers a selection of hybrid vehicles, which are popular in China.Some 311,000 of the 500,000 passenger vehicles BYD sold in October were hybrids, with hybrid sales rising by 62% year-on-year.<div type="image" title="BYD Seal" height="4024" width="6048" msid="114857772" hostid="261" sizebytes="511534"></div>BYD has sold nearly two million hybrid vehicles this year. The automaker says its latest hybrids can go up to <a target="_blank" class="" href="https://www.businessinsider.com/byd-new-hybrid-cars-1250-miles-nonstop-gas-charging-2024-5">1,250 miles without stopping for gas or charging</a>.Dylan Khoo, an analyst at technology intelligence firm ABI Research, told BI the core of BYD's success this quarter stemmed from plug-in hybrid electric vehicle (PHEV) sales in China."Newly launched models based on BYD's fifth generation DM-i PHEV technology have been huge sales successes," he said.<h2 id="f1637504-ae75-4bb3-8d4a-af997966f543">5. Vertically integrated supply chains</h2>The core of BYD's success — and part of the reason it can produce EVs so cheaply — is that it tries to make almost every component in-house.BYD produces its own batteries and computer chips. BYD executive VP Stella Li recently told MotorTrend that BYD manufactures every component of its Dolphin electric hatchback, apart from the tires and windows.<div type="image" title="BYD executive vice president Stella Li" height="2668" width="4000" msid="114857770" hostid="261" sizebytes="387636"></div>"BYD's high degree of vertical integration — making rather than buying many key strategic components — means it can control production of batteries and chips and can do so at very low cost," said David Bailey, professor of business economics at the University of Birmingham.BYD did not respond to a request for comment from BI.

5 reasons BYD is surging ahead after eclipsing Tesla's quarterly sales for the first time

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> reported third-quarter sales on Wednesday.</li><li>Shares fell in early trading following the release.</li></ul>Tesla <a target="_blank" class="" href="https://ir.tesla.com/press-release/tesla-third-quarter-2024-production-deliveries-and-deployments">reported</a> third-quarter sales of 462,890 on Wednesday morning, its first quarter-over-quarter gains this year.Shares fell about 4% in early trading following the release. The stock has been on a wild ride this year, surging roughly 81% from an April low as CEO Elon Musk hypes <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-release-date-elon-musk-stock-price-2024-9">an autonomous Tesla taxi to be revealed on October 10.</a>Analysts <a target="_blank" class="" href="https://www.businessinsider.com/tesla-q3-deliveries-preview-wall-street-expects-beat-mojo-returns-2024-9">had expected 462,000 vehicle deliveries </a>for the period ending September 30.As is tradition at <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Musk's car company</a>, the end of the quarter came with an all-hands-on-deck push to get cars delivered to waiting customers, which included <a target="_blank" class="" href="https://www.businessinsider.com/how-much-is-a-tesla-model-3">aggressive financing incentives</a> in September. The effort seemed to pay off, delivering Tesla's first sales increase of 2024.Still, Tesla will have to make monumental increases in the final three months of the year to put 2024's figures ahead of the previous year,Reversing the sales slowdown at Tesla is a much-needed win for Musk's car company.Across the industry, automakers are struggling with<a target="_blank" class="" href="https://www.businessinsider.com/tesla-layoffs"> a slowdown in demand for electric cars</a>. Tesla stayed above the fray last year as legacy car companies scrambled to change their EV plans, but <a target="_blank" class="" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">this year has been a different story</a>.Tesla posted two consecutive quarters of falling deliveries in the first half of the year, reversing years of growth for the company. Musk's initial plan to undercut competitors on price isn't working as well as it did a year ago and is also eating into the company's bottom line.And as <a target="_blank" class="" href="https://www.autonews.com/sales/september-q3-us-auto-sales-volume-drops-hyundai-kia?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=Newsletter-ANDaily-20241002">new vehicle sales fall regardless of powertrain</a>, Musk has touted autonomy as the latest driver of Tesla's growth story and one that investors should pay more attention to than sales.Analyst Dan Ives of Wedbush, a longtime Tesla bull, said the numbers were "a step in the right direction but clearly we and the Street were hoping for 3k-5k upside to this number and we will see some pressure on shares this morning as investors walk away from delivery numbers expecting more.""Overall, this is a clear improvement from 1H and we believe getting in the range of 1.8 million for the year is still the key and important bogey," he told clients.

Tesla reversed its sales slowdown, but not enough to calm investors' nerves 

<ul class="summary-list"><li>BMW CEO Oliver Zipse says a 2035 gasoline ban will hit the European auto industry.</li><li>Easing the ban, he said, would help reduce the EU's reliance on China for batteries.</li></ul>The European Union needs to move away from its planned ban on gasoline vehicles if it wants to reduce reliance on China for batteries, <a target="_blank" class="" href="https://www.businessinsider.com/bmw-ceo-oliver-zipse-tesla-growth-sales-struggle-electric-vehicles-2021-2">BMW</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/production-chief-zipse-named-new-boss-at-automaker-bmw-2019-7">Oliver Zipse</a> said on Tuesday.Zipse was addressing attendees at the Paris Automotive Summit when he criticized the EU's requirement for all new cars and vans to have zero emissions from 2035.The law, which was approved by EU countries in March 2023, is part of the region's efforts to achieve climate neutrality by 2050."For the automotive industry, geopolitical resilience and access to markets and raw materials remains critical to success and future viability, while also reducing dependencies on China through openness to technologies," Zipse said on Tuesday.A "correction" of the planned 2035 gasoline vehicle ban, Zipse said, would help reduce European OEMs' reliance on China for batteries.Earlier in his speech, Zipse said the EU's ban could "threaten the European automotive industry in its heart" and "lead to a massive shrinking of the industry as a whole."BMW's decarbonization efforts, Zipse told summit attendees, weren't just focused on the vehicles they produced, but also on their supply chains."To maintain the successful course, a strictly technology-agnostic path with the policy framework is essential," Zipse said."The only thing that counts in the end is the tonne of CO2 that is not emitted and the earlier the better, and not the technological way how this reduction is achieved," he added.Representatives for Zipse at BMW didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.Several Western auto chiefs have commented on the challenges and difficulties that could arise from transitioning their industry to electric vehicles.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stellantis-leverages-its-management-organisation-with-changes-to-drive-performance-under-the-leadership-of-carlos-tavares-1033836989">Stellantis</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/bmw-stellantis-renault-auto-giants-on-chinese-ev-competition-2024-10">Carlos Tavares,</a> who helms an automaker that owns brands like Chrysler, Fiat, Jeep, Maserati, and Peugeot, is advocating for a short transition from combustion engine vehicles to electric ones.On Monday, Tavares said in an interview with the Financial Times that automakers will find themselves in a "<a target="_blank" class="" href="https://www.businessinsider.com/stellantis-ceo-slow-ev-transition-big-trap-automakers-2024-10">big trap</a>" if the EV transition slows.This, Tavares said, is because automakers will have to continue to invest in both electric and gasoline vehicles, thus incurring higher costs."When you make a longer transition, in fact, you don't replace the old world by the new one. You add up the new world to the old," he said.EV sales have been <a target="_blank" class="" href="https://www.businessinsider.com/electric-car-ev-sales-prices-problem-transportation-2024-1">declining</a> in Europe in recent months. In August, EV registrations fell by nearly 44% compared to the same month a year ago, per the European Automobile Manufacturers' Association.That's on top of the steep competition Western automakers are facing from their Chinese counterparts like <a target="_blank" class="" href="https://www.businessinsider.com/how-chinese-automaker-byd-rose-to-challenge-tesla-2024-4">BYD</a>.Mercedes-Benz CEO <a target="_blank" class="" href="https://www.businessinsider.com/china-electric-cars-mercedes-benz-ola-kallenius-european-union-tariffs-2024-3">Ola Källenius</a> told attendees at the Berlin Global Dialogue conference on October 2 that the Western auto industry is fighting a "<a target="_blank" class="" href="https://www.businessinsider.com/western-auto-chiefs-industry-locked-in-darwinian-battle-with-china-2024-10">Darwinistic-like price war</a>" with their Chinese rivals.This, he said, could eventually result in "market purification.""Many of those players that are around now. Many of those are not going to be around five years from now," Källenius continued."You must control your nerves, keep on investing, keep on innovating and make sure that at the end of that Darwinian battle, that you are one of the combatants that are left and that's what we are focusing on," he added.

BMW CEO: A 2035 gasoline ban will hit the European car industry 'in its heart' and make it reliant on Chinese batteries

With the festive season on, car makers, leading <keyword id="6363602" type="General" weightage="80" keywordseo="maruti-suzuki-india-ltd" source="Orion">Maruti Suzuki India Ltd</keyword>, closed October with good sales numbers. However, the shortage of electronic components had put brakes on overall sales. According to <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>, it had sold a total of 167,520 units (domestic 143,250 units, sales to other car makers 3,822, exports 20,448 units) in October 2022 up from 138,335 units (domestic 112,788 units, sales to other car makers 4,225 units, exports 21,322 units). Hyundai Motor India Ltd sold 58,006 units (domestic 48,001 units, exports 10,005 units) last month as against 43,556 units (domestic 37,021 units, exports 6,535 units) sold in October 2021. Utility vehicle major Mahindra and Mahindra Ltd said it had sold 32,298 passenger vehicles last month in the domestic market, up from 20,130 units sold in October 2021. On the other hand, Tata Motors Ltd said it had sold 45,423 passenger vehicles last month (34,155 units sold in October 2021). Interestingly for Nissan Motor India, exports outnumbered its domestic sales last month. The company had sold a total of 10,011 units out of which exports were 6,950 units and domestic sales were 3,061 units. Other car makers like <keyword id="6374528" type="General" weightage="50" keywordseo="toyota" source="Orion">Toyota</keyword> <keyword id="146495" type="General" weightage="80" keywordseo="kirloskar-motor" source="Orion">Kirloskar Motor</keyword> said it had sold 13,143 units last month (12,440 units), <keyword id="20630" type="General" weightage="50" keywordseo="honda" source="Orion">Honda</keyword> Cars India Ltd last month sold 11,221 units (9,855 units) and MG Motor India, 4,367 units. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaa-stock-climbs-over-5-after-it-reports-5-2-crore-profit-in-q2/articleshow/95229929.cms">Nykaa stock climbs over 5% after it reports ₹5.2 crore profit in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/jewellery-demand-is-now-back-to-pre-pandemic-levels-world-gold-council/articleshow/95229678.cms">Jewellery demand is now back to pre-pandemic levels: World Gold Council</a>

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